Universal Protocol Alliance Announces World’s First Tradable Carbon Token UPCO2

The Universal Protocol Alliance (UPA) blockchain coalition, which includes Ledger, Bittrex Global, CertiK, Infinigold, and Uphold, launched the world’s first tradable carbon token – Universal Carbon (UPCO2). The coalition announced the launch in a press release shared with Kryptomoney on the 1st of December.

According to the press statement, the UPCO2 was launched on a public blockchain and can be acquired as an investment. or burnt to offset a person’s carbon footprint. In addition, the UPCO2 is backed by a Verra-issued digital certificate Voluntary Carbon Unit (VCU).

Also, the Uphold CEO and UPA co-founder JP Thieriot explained that each UPCO2 token equals a year-tonne of CO2 pollution. He noted that the current retail market only gives users access to voluntary carbon credits. In an interview with CoinDesk, Thieriot said that the coalition would be the first in the world to make credits available for holding and trading.

The CEO said the token would be available on Uphold for about four to six weeks before expanding to Bittrex Global. Thieriot added that the coalition would like other exchanges in the world to also list the token.

The UPA chairman Matthew Le Merle said:

“For a new generation of investors looking for more than mere financial return, UPCO2 offers attractive social, economic and environmental benefits. At a key moment for climate change, UPCO2 allows people worldwide to do good for the planet and potentially do well for themselves.”

Image Credits: Pixabay